The Philippines plans to issue tokenized government bonds in December through wallet application GCash and cryptocurrency exchange PDAX

Odaily Planet Daily News: The Philippine government is about to launch the next phase of the government bond tokenization process, planning to issue long-term tokenized treasury bonds (GBonds) for consumers in December. Last year, the government tokenized bonds to focus on institutional investors. Subsequently, the government issued 90 day Treasury bonds to retail investors. Its main issuance mechanism will be through GCash and PDAX. GCash is a wallet application with 94 million users and a recent valuation of $5 billion; Ant Financial, the owner of Alipay, owns about one-third of the shares of GCash's parent company Mynt, and Mitsubishi UFJ Financial Group owns 8% of the shares. PDAX is a cryptocurrency exchange with approximately 4 million users and has started issuing treasury bonds with a minimum investment of 500 pesos ($8.52).